Slowing Growth is a Global Phenomenon

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20210913 slowing website

Source: Unigestion, Bloomberg. Data as of 8 September 2021.

A breakdown of our proprietary Global Growth Nowcaster shows that the phenomenon of slowing economic expansion over the last couple of months is fairly broad-based with nearly all regions/countries down significantly from their early summer levels. The slowdown looks to have been driven by a combination of waning fiscal impulse and continued concerns around the Delta variant. The Eurozone is the exception, where growth remains at an elevated level similar to the end of June. However, the Eurozone diffusion index has fallen from 67% of data improving at the end of June to just 40% of data today, suggesting that growth here is also slowing.

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